TechFlow News: On April 2, according to JINSHI Data, to implement the State Council’s “15th Five-Year Plan” Outline—which calls for the “steady development of the digital RMB”—and further enhance the inclusiveness of digital RMB services, while continuously responding to the public’s demand for secure, convenient, and efficient digital RMB services, the People’s Bank of China (PBOC) has designated CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Banking Corp., Guangfa Bank, Shanghai Pudong Development Bank (SPDB), Zhejiang Commercial Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, and Suzhou Bank as new banking institutions authorized to operate digital RMB services. These banks have been connected to the PBOC’s digital RMB system. The newly designated institutions will commence digital RMB operations after completing necessary business and technical preparations.
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